Global Diesel Power Engine Market Report and Forecast 2023-2028

Global Diesel Power Engine Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global diesel power engine market reached a value of USD 8.36 billion in 2022. Aided by the increasing demand for reliable power generation and the growing applications of diesel power engines across various sectors, the market is projected to further grow at a CAGR of 4.63% between 2023 and 2028 to reach a value of USD 11.01 billion by 2028.

Diesel power engines, known for their efficiency and durability, are frequently employed in sectors like power generation, marine, construction, and industrial applications. They play an instrumental role in providing consistent and stable power supply, making them crucial in operations where power reliability is paramount. Beyond their power attributes, diesel power engines also boast superior fuel efficiency and robustness, making them invaluable assets in various industrial operations, including mining, oil and gas, and manufacturing.

The rising demand for consistent and efficient power generation is a primary driver of the global diesel power engine market growth. With increasing industrialisation and urbanisation, the demand for reliable power has surged, propelling the growth of the market. Furthermore, the growing trend of infrastructure development across emerging economies has contributed to the escalating demand for diesel power engines, given their crucial role in construction equipment and machinery.

The broadening applications of diesel power engines across multiple sectors significantly contribute to the diesel power engine market expansion. In the marine industry, diesel power engines are the backbone of various vessels due to their reliability and efficiency. The manufacturing sector employs these engines for their durability and high performance, critical for various industrial processes. Furthermore, diesel power engines' fuel efficiency makes them essential in power-dependent sectors like data centres and hospitals.

Moreover, the growing demand for standby power solutions in commercial establishments has spurred an increased focus on diesel power engines. With the escalating need for uninterrupted power supply in commercial spaces like shopping malls, corporate offices, and hotels, diesel power engines have emerged as vital assets. Their reliability and quick start-up times assure business continuity, thus driving market growth.

Furthermore, technological advancements aiming to reduce emissions and improve efficiency present additional growth opportunities for the diesel power engine market. Innovations such as advanced exhaust after-treatment systems and common rail fuel injection technology have increased the attractiveness of diesel power engines from an environmental perspective.

Market Segmentation

The market can be divided based on operation, power rating, end use, and region.

Market Breakup by Operation

• Standby
• Prime
• Peak Shaving

Market Breakup by Power Rating

• Below 1 MW
• 1 to 5 MW
• More than 5 MW
• Others

Market Breakup by End Use

• Industrial
• Commercial
• Residential

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global diesel power engine companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Caterpillar Inc.
• Cummins Inc.
• Kohler Co.
• AB Volvo
• Mitsubishi Heavy Industries, Ltd.
• Wärtsilä Corporation
• KUBOTA Corporation
• IHI Corporation
• Yanmar Holdings Co., Ltd
• Daihatsu Diesel Mfg.Co.,Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.